- This topic has 9 replies, 3 voices, and was last updated 9 years, 3 months ago by Anonymous.
- May 5, 2011 at 4:11 pm #205355AnonymousInactive
bad credit in Texas? I have a credit score of 415. The 3 bedroom house I want to get is only $44,000 and ready to move into.
- May 6, 2011 at 8:52 am #260365Jake HudakMember
you as a first time home buyer is a plus, but they still need to consider your income and most likely having a bad credit score will come up with a higher interest on your part. but im pretty sure theres a lot of lending companies that will solve your problem but you need to pay the price.
- June 7, 2011 at 2:41 am #431149AnonymousInactive
ABSOLUTELY NOT! You have a signed contract!
Please go back and completely read your mortgage papers from Greenpoint Mortgage. You MIGHT have had a fixed rate for a period (usually like 2 years) and that period might have run out. If that is the case, you have no recourse.
- June 7, 2011 at 2:48 am #431150AnonymousInactive
No . you must be mis-understanding something
- June 7, 2011 at 3:40 am #431151AnonymousInactive
That doesn’t sound legal – they bought your loan agreement – if you sign a new agreement with them then they have you but otherwise – they have to abide by the agreement you signed.
- June 7, 2011 at 4:36 am #431152AnonymousInactive
Negative, they are bound by the terms of the original contract. I hope that you have your copy of the contract.
- June 7, 2011 at 4:38 am #431153AnonymousInactive
Absolutely not!!!! Don’t let them get away with this one. It is not legal unless you sign an agreement as such. Report this practice to the banking commission in your state. I would also report it to your state’s attorney general. Keep copies of all communications involving this unauthorized transaction.
- June 7, 2011 at 5:02 am #431154AnonymousInactive
No they can’t.
- June 7, 2011 at 5:34 am #431155AnonymousInactive
That only works with loan sharks and the mob. The new mortgage servicer or mortgagee can only be assigned the existing loan, pursuant to the terms already written in that contract.
Countrywide knows that – have someone there explain it again and read your loan papers so that you are clear as well.
- June 7, 2011 at 6:06 am #431156AnonymousInactive
NO they can’t. I’m betting you don’t understand.
I bet you have a 30 year adjustable rate mortgage. The first term rate was “fixed” at a set rate for the first term and now it’s time to adjust.
I see this type of confusion here all the time.
However, I would take the paperwork to a lawyer or back to your title company and have them explain the terms.
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